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PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2011

NOTE 9—PREMISES AND EQUIPMENT, NET

The following table presents the components of premises and equipment as of the dates indicated:

	December 31,

	2011			2010
	(In thousands)
Land	$	3,537		$	3,537
Buildings		5,815			5,815
Furniture, fixtures and equipment		29,466			26,268
Leasehold improvements		23,630			23,495

Premises and equipment, gross		62,448			59,115
Less: accumulated depreciation and amortization		(39,380	)		(36,537	)

Premises and equipment, net	$	23,068		$	22,578

Depreciation and amortization expense was $5.4 million, $5.1 million, and $5.5 million for the years ended December 31, 2011, 2010, and 2009, respectively.

We have obligations under a number of noncancelable operating leases for premises and equipment. The following table presents future minimum rental payments under noncancelable operating leases as of December 31, 2011:

Estimated Lease Payments for Year Ending December 31,	Amount

	(In thousands)
2012	$	16,621
2013		15,746
2014		13,712
2015		11,121
2016		8,289
Thereafter		14,629

Total	$	80,118

Total gross rental expense for the years ended December 31, 2011, 2010, and 2009, was $16.7 million, $16.8 million, and $15.0 million, respectively. Most of the leases provide that the Company pay maintenance, insurance and certain other operating expenses applicable to the leased premises in addition to the monthly rental payments.

Total rental income for the years ended December 31, 2011, 2010, and 2009, was approximately $587,000, $518,000, and $441,000, respectively. The future minimum rental payments to be received under noncancelable subleases are $2.3 million.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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